Wisconsin native, conservative critic of everything.
"Once abolish the God, and the government becomes the God." ---G K Chesterton
"The only objective of Liberty is Life" --G K Chesterton
"Fallacies do not cease to be fallacies because they become fashions" --G K Chesterton
"A man can never have too much red wine, too many books, or too much ammunition." -- Rudyard Kipling

Thursday, August 04, 2011

The Next Porkulus: "Infrastructure Bank"! (And GE, Too)

You noticed that all the roads are turning to gravel and all the bridges are falling down, and all the water is kinda green/blue/purple?

Obama has!

...Undaunted by his spectacular porkulus bust and unemployment numbers still hovering near double-digits, Obama peddled this latest shovel-unready scheme last week:

“We’ve got the potential to create an infrastructure bank that could put construction workers to work right now,” he asserted at a press conference, “rebuilding our roads and our bridges and our vital infrastructure all across the country. So those are still areas where I think we can make enormous progress.”

Only a cynic would point out that $230Bn was Porkulated and $73Bn/year is spent on this stuff anyway--just by the Feds.

Well, Immelt, the Man for ChinaJobs, steps up and pulls out his pom-poms. That should be a hint.

...Last week at a Chamber of Commerce jobs summit shindig, Obama supporter and head of General Electric Co. Jeffrey Immelt pushed a “repatriation tax holiday” to help pay for the infrastructure bank. The idea would be to pressure companies to redistribute foreign profits back to the U.S. by giving them a special tax break....

Nope. GE doesn't need tax breaks. They already pay zero. So what's in it for them?